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president obama saying now a deal to avoid the so-called fiscal cliff could be about a week away. there is just one catch. he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not that tough. but we need that conceptual break through that says we need to do a balanced plan. >> we made a good faith offer to avert the fiscal crisis and that offer included significant spending cuts reforms and it included additional revenue. and frankly, it was a balanced approach mr. president has been asking for. now we need a response from the white house. >> they have 27 days to prevent automatic tax hikes and spending cuts from kicking in on new year's day. ed henry live at the white house for us. ed, we are hearing the president and house speaker john boehner actually talked by phone no
president obama saying now a deal to avoid the so-called fiscal cliff could be about a week away. there is just one catch. he says republicans have to accept the, quote: reality as he puts it that tax rates are going up for the richest americans. something g.o.p. leaders are calling a deal breaker. >> we're not insisting on rates just out of spite or out of any kind of partisan bickering. but rather because we need to raise a certain amount of revenue. we can probably solve this. it's not...
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. >> preparing for the holidays in the bennett's house, is a reminder of something else, a fiscal cliff deadline that's personal here. >> i can't imagine funding being cut at this point, it will be tragic. >> chloe was in the hospital from two weeks, luke for three. >> contaminated food sickens about 48 million people a year. so the fda foot safety and administration service -- the budget cut translates to a combined $157 million. there's no word exactly what cuts would mean to expecter staffing. >> they're already stretched then when it comes to the inspection activities, they really need increased resources, and not fewers. >> agencies always say they're stretched. >> dean clancy is with freedom works, and says there is nothing to fear. >> dangerous public health and safety is an irresponsible scare tactic, especially when you realize these are not real cuts, these are reductions from anticipated increases in spending. >> to cut the budget for the agencies will significantly impact them today and tomorrow. >> you made that one, didn't you? >> tressa bennett and your kids are now healt
. >> preparing for the holidays in the bennett's house, is a reminder of something else, a fiscal cliff deadline that's personal here. >> i can't imagine funding being cut at this point, it will be tragic. >> chloe was in the hospital from two weeks, luke for three. >> contaminated food sickens about 48 million people a year. so the fda foot safety and administration service -- the budget cut translates to a combined $157 million. there's no word exactly what cuts would...
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>> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff which is a creation of congress. it's a bipartisan creation. this fiscal cliff is the result of the last fiscal cliff. >> bill: that put a date on there. >> yeah. >> bill: may extend the date that's what i think is going to happen. >> my hope is is that we can avoid the bad stuff. then we have to deal with the 16 trillion-dollar debt that $1 trillion a year in deficit spending. we have to solve that. that thing is not going to solve itself. >> bill: doesn't feel like the president feels the urgency that you feel. you are one of the leaders of the republican party whether you want to be or not. there you are. so you find yourself now trying to get the republican party reorganized and back into the populist column. ain't going to be easy for you, senator. because you have got to be the senator from florida and at the same time try to resurrect this party. >> well, it's -- but i think the people of florida have the same ax sights as the people of our country. i'm informed by my own backg
>> at a minimum what i hope is that we'll be able to do something here that avoids this fiscal cliff which is a creation of congress. it's a bipartisan creation. this fiscal cliff is the result of the last fiscal cliff. >> bill: that put a date on there. >> yeah. >> bill: may extend the date that's what i think is going to happen. >> my hope is is that we can avoid the bad stuff. then we have to deal with the 16 trillion-dollar debt that $1 trillion a year in...
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like the fiscal cliff minimizes it yes and no i definitely agree that it's a complex problem i don't think it simplifies it though i think it adds an element of panic or fear looming. doom that and the media loves that yeah do you think there's actually something to worry about or do you think it's something the politicians and the media used to distract us from what's really going on politics and media for sure so what's really going on that they're distracting us from. their own personal agendas people fall into a trip when it comes to reelecting. people that don't do their job. which is all of them you know in a word yes yes they're much more concerned with their own agendas and their own you know ties that they were already got there used to be there was a thought at one time that the incumbent should never be reelected and it doesn't mean anyone at the top or the bottom and should be everyone should have one term and that's it if they're not really trying to work together three business channels or in twenty four hours a day and it's good news nothing else is happening we alread
like the fiscal cliff minimizes it yes and no i definitely agree that it's a complex problem i don't think it simplifies it though i think it adds an element of panic or fear looming. doom that and the media loves that yeah do you think there's actually something to worry about or do you think it's something the politicians and the media used to distract us from what's really going on politics and media for sure so what's really going on that they're distracting us from. their own personal...
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. >>> both sides in the fiscal cliff negotiations are much closer despite what you might think. on today's state of the union, jackie -- of the times picked up on something. >> he said you know, the republicans really ought to think about just declaring victory by going along with the president and senate democrats and taking the 98% of the tax cuts they agree on for everybody below $250,000 and just work next year on tax reform and see if they can get the top rate down again. it's hard to think that's not going to be where they end up, so why not make it clean instead of ugly. >> i think that it is true that many republicans are saying privately what tom cole said on this show, that they believe the politically expedient and right thing to do now is just to cut their losses, agree to tax rates going up for the most wealthy and really try for significant tax reforms so that 39.6% is going to be moot. >> if nothing is done by the end of the year to avoid the fiscal cliff, automatic federal spending cuts could impact the foot we eat. emily schmidt explains. >> preparing for holida
. >>> both sides in the fiscal cliff negotiations are much closer despite what you might think. on today's state of the union, jackie -- of the times picked up on something. >> he said you know, the republicans really ought to think about just declaring victory by going along with the president and senate democrats and taking the 98% of the tax cuts they agree on for everybody below $250,000 and just work next year on tax reform and see if they can get the top rate down again....
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cliff. >> they agreed with the balanced approach that asked something from everyone, but a little more from those who can afford it the most of the it's only way to put our economy on a sustainable panel without asking even more from the middle-class. >> florida senator marco rubio responded with a call for limited government, reform in the tax code and the goal of creating new taxpayers, not new taxes. >>> president obama has outlined what corporations can do to help the nation celebrate his inaugural in january. while taxes pay for the swearingin, festivities are privately funded new hampshire 2009 mr. obama refused corporate donations and he is now accepting them in packages up to $1 million. . >>> former south of canpresident nelson mandela was admitted to a hospital. current president of south africa says there was no cause for alarm by the4-year-old's health. mandela spent 27 years in prison for fighting fighting apartheid in south africa. >>> two dozen teens work on ideas at castro library this afternoon. >> it's really interesting ideas at inspection and around places like park
cliff. >> they agreed with the balanced approach that asked something from everyone, but a little more from those who can afford it the most of the it's only way to put our economy on a sustainable panel without asking even more from the middle-class. >> florida senator marco rubio responded with a call for limited government, reform in the tax code and the goal of creating new taxpayers, not new taxes. >>> president obama has outlined what corporations can do to help the...
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>> steve: one of the young people when did respond said fiscal cliff, that sounds like something i probably studied in school. no. this is new. this is something that they've just fresh baked up for us. >> brian: this generation made it up! >> gretchen: they'll be paying for it. >> steve: for a long, long time. our children and children's children, consider the amount of dent this president has run up. this could be good news. the president of the united states did speak with speaker boehner yesterday on the phone. we know nothing about the call except they talked on the phone. we do know that the last offer, the counteroffer was made by the republicans. they're waiting for the white house. the white house at the same time says come on, we don't have another counteroffer because your last offer was a stinker. you, republicans, need to come up with a new one. >> gretchen: the thing is, they're playing hard ball right now. the white house has sent out tim geithner, the treasury secretary, instead of the president actually, to lead the negotiations and when he was asked yesterday in an intervi
>> steve: one of the young people when did respond said fiscal cliff, that sounds like something i probably studied in school. no. this is new. this is something that they've just fresh baked up for us. >> brian: this generation made it up! >> gretchen: they'll be paying for it. >> steve: for a long, long time. our children and children's children, consider the amount of dent this president has run up. this could be good news. the president of the united states did speak...
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both sides of the fiscal cliff negotiations are much closer than you may think despite what law makes say publicly. jackie calms of the "new york times" picked up on something that lawmaker tim cole said recently. >> the republicans should just declare victory and taking the 98% of the tax cuts that they agree on and work next year on tax reform and see if they can't get the top rate back down again. it's hard to think that that's not where they're going to end up so why not make it clean instead of ugly. >> i think it's true that many people are saying privatery what tom cole said publicly on the show. but they believe that the politically right thing to do right now is to cut that you are losses, let tax rates go up for the most wealthy and really try for significant tax reform so that 39.6% is going to be mute. >> so the good news is that negotiations do continue, there was a meeting today between president obama and house speaker john boehner. that happened at the white house today, we are frying to get more details, we're trying to get our white house chief correspondent jessica
both sides of the fiscal cliff negotiations are much closer than you may think despite what law makes say publicly. jackie calms of the "new york times" picked up on something that lawmaker tim cole said recently. >> the republicans should just declare victory and taking the 98% of the tax cuts that they agree on and work next year on tax reform and see if they can't get the top rate back down again. it's hard to think that that's not where they're going to end up so why not...
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. >> christin, something else on the fiscal cliff. a drop in confidence and zero u.s. economic growth with no agreement on this fiscal cliff and indeed a ripple effect in the eurozone and elsewhere. do you think the politicians understand the kind of seriousness of the game that they're playing at the moment? >> i think they do and a good sign is notice in the last day or two, you haven't been hearing as much come out of either members of congress or the white house. president obama right now is i think on the road in detroit. gave a speech today about the economy. but you're seeing a little bit less of the sort of back and fort we saw a weeking a with tim geithner putting out a plan and republicans releasing a letter publicly. i think negotiations of this kind best if they're happening without a lot of the public political posturing. i think that's the direction you have seen things go in the last few days so i'm hoping that's a good sign for things and taken seriously. >> i hope you're right. it is childish, i think. finally for you, gary. this ongoing battle blowing
. >> christin, something else on the fiscal cliff. a drop in confidence and zero u.s. economic growth with no agreement on this fiscal cliff and indeed a ripple effect in the eurozone and elsewhere. do you think the politicians understand the kind of seriousness of the game that they're playing at the moment? >> i think they do and a good sign is notice in the last day or two, you haven't been hearing as much come out of either members of congress or the white house. president obama...
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the practical side those members not at the table negotiating things like the fiscal cliff and the role is something to vote on and so getting back to their districts, some of them say to you having a chance to talk with voters at home is valuable. many of them have fairly packed schedules for events at home but then you have to weigh it against the appearance of people leaving the capitol and does that suggest to people at home they aren't really as nose to the grindstone as they might be? it's an eye of the beholder moment and when you talk about a lame duck congress, here we are with many of these members waiting to have their new colleagues come in this january and tackle some of the big problems and looming deadlines. how do they shake it snout over time we have seen that the lake duck sessions are sometimes not very productive. not a lot going on. but we're certainly heavily focused on it in the last couple of weeks because of the huge problems that need to be tackled. one of the big issues is anybody really talking about what to do with the fiscal cliff other than news conference
the practical side those members not at the table negotiating things like the fiscal cliff and the role is something to vote on and so getting back to their districts, some of them say to you having a chance to talk with voters at home is valuable. many of them have fairly packed schedules for events at home but then you have to weigh it against the appearance of people leaving the capitol and does that suggest to people at home they aren't really as nose to the grindstone as they might be?...
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know that at the end of this month and we're right at the fiscal cliff and we look at john boehner and you're right, he did give up revenue. he said okay. i'm going to cave on that. we'll raise revenue. but the president has been absolutely adamant, i'm not budging unless the top 2% pay a higher rate. not just revenue, a higher rate. >> the top 2% will pay higher taxes because of the revenue rates that we will raise without raising the tax rates. once you raise the tax rates, they become permanent. you can't change them. it will be almost impossible to change them and of course, that affects, like i say, almost a million small businesses and about 700,000 jobs. that's what the american people aren't getting from the debate on this subject. frankly, it is a bait and switch because the president has put out a plan that even democrats won't support that literally will not work, that literal israeli going to cause even more spending than we have right now, and put us even more than the 16 trail, $300 billion debt that we're incurring, going up every day. >> steve: senator, for generations,
know that at the end of this month and we're right at the fiscal cliff and we look at john boehner and you're right, he did give up revenue. he said okay. i'm going to cave on that. we'll raise revenue. but the president has been absolutely adamant, i'm not budging unless the top 2% pay a higher rate. not just revenue, a higher rate. >> the top 2% will pay higher taxes because of the revenue rates that we will raise without raising the tax rates. once you raise the tax rates, they become...
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cliff meeting. cnn's sane yore political analyst, mr. david dergan, he joins me by phone. david, before i ask you, it's interesting. this is the latest from jessica yellin and folks in washington. both sides are saying, they met at the white house, in efforts to resolve the fiscal cliff, no the reading out any details. they believe that this -- it is encouraging because they're on the same message, they seem to be in agreement. what do you think? >> i think it is encouraging. certainly on the surface. the most important reason it's encouraging is that both men are obviously looking for a compromise. they're both looking for a solution. with time running out it was urgent that this week, they try to strike a deal. and i think the deal can be wrapped up fairly quickly. everybody knows what the debate for months and months and months how to possibly do this. i think there are two questions, don. one is the short-term question, are they getting closer to avoiding the fiscal cliff? that's the short-term.
cliff meeting. cnn's sane yore political analyst, mr. david dergan, he joins me by phone. david, before i ask you, it's interesting. this is the latest from jessica yellin and folks in washington. both sides are saying, they met at the white house, in efforts to resolve the fiscal cliff, no the reading out any details. they believe that this -- it is encouraging because they're on the same message, they seem to be in agreement. what do you think? >> i think it is encouraging. certainly on...
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co-owner jonathan williams concerned about the pending government fiscal cliff. >> there's a real simple correlation. people have jobs, they spend money. if people are worried about losing their jobs or don't have a job, then they're not going to go out that much. they're going to cook at home or stay at home. >> reporter: just a couple miles from the pentagon, many of the patrons here work directly or indirectly for the defense department and its contractors. the defense industry is facing $55 billion in discretionary spending cuts next year. unless congress acts to avert the so-called fiscal cliff. in addition, several key tax benefits are scheduled to expire at the end of the year that will have a direct impact on the pocketbooks of many americans. take a couple with one child living in new york earning $100,000. their tax rate jumps from 25% to 28%. they could be hit by the alternative minimum tax. the child tax credit drops from $1,000 to $500, and payroll taxes could be $2,000 more next year. for a single 25-year-old in michigan who works for time earning $30,000 a year and going t
co-owner jonathan williams concerned about the pending government fiscal cliff. >> there's a real simple correlation. people have jobs, they spend money. if people are worried about losing their jobs or don't have a job, then they're not going to go out that much. they're going to cook at home or stay at home. >> reporter: just a couple miles from the pentagon, many of the patrons here work directly or indirectly for the defense department and its contractors. the defense industry...
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mike jerrick is here everyone, great to see you and we have been focusing on the fiscal cliff, and roll up the thing on the bottom of the screen, because 23 days left until the ticker goes. >> when you say jump, they say how high, now what i'm saying? you call for something and they say let's do it. >> they say we're going to do you one better, we're not going to put up the number, we're putting up the hours and minutes until it happens. >> alisyn: 23 days the point that clayton is trying to make. throw it out and obamacare, the new tenants of the president's-- >> i wasn't lying. >> alisyn: of the president's health care reform care flan in effect january 1st and let's break down some of the new costs that will be hitting some americans, investment income for households earning more than $250,000 will be taxed at 3.8% more, regular income above 200,000, a .9% medicare tax. >> clayton: the bottom line, the end of the day as these things go into effect. you're working just as hard. you work as hard as you are now, 40 hours 0 week or more, overtime and your check will be less, that's the b
mike jerrick is here everyone, great to see you and we have been focusing on the fiscal cliff, and roll up the thing on the bottom of the screen, because 23 days left until the ticker goes. >> when you say jump, they say how high, now what i'm saying? you call for something and they say let's do it. >> they say we're going to do you one better, we're not going to put up the number, we're putting up the hours and minutes until it happens. >> alisyn: 23 days the point that...
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. >> it will be really nice to talk about something other than the fiscal cliff. i will say that. >> jobs. that's right. >> 25 minutes past the hour. the republican party needs some new younger blood say some pundits. are these the new leaders of the gop, paul ryan, marco rubio, could they already be on the campaign trail? bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a reality. bny mellon wealth management to provide a better benefits package... oahhh! [ male announcer ] it made a big splash with the employees. [ duck yelling ] [ male announcer ] find out more at... [ duck ] aflac! [ male announcer ] ...forbusiness.com. ♪ ha ha! progresso. in what world do potatoes, bacon and cheese add up to 100 calories? your world. ♪ [ whispers ] real bacon... creamy cheese... 100 calories... [ chef ] ma'am [ male announcer ] progresso. you gotta taste this soup. ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time
. >> it will be really nice to talk about something other than the fiscal cliff. i will say that. >> jobs. that's right. >> 25 minutes past the hour. the republican party needs some new younger blood say some pundits. are these the new leaders of the gop, paul ryan, marco rubio, could they already be on the campaign trail? bny mellon wealth management has the vision and experience to look beyond the obvious. we'll uncover opportunities, find hidden risk, and make success a...
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if they do nothing, if no law passes, they go over the fiscal cliff. >> that raises the issue. you are talking what a disaster the medicare eligibility portion of this would be, do you look at the compromise of 37%, if you could get something more favorable on medicare, would you say going up to 37% instead of 39.6 is enough? >> no. look, there was a tax plan and we looked at the discussion of keeping the rates at the level and reforming the tax code and dealing with deductions. the truth is, if you want to have significant deficit reduction, which republicans are arguing for and you want to stabilize the debt, we need significant revenue. we need to -- the real challenge we have is we are not raising revenue. it's at the lowest levels it's been in decades. the fairest and best way to do that is move from 35 to 39.6%. go back to the clinton levels. we have this level in 2000, from '93 to 2000. we had great growth. we looked at the issue. we have bob on our plan. the reason we have that is because we recognize this argument republicans have made, which is that raising the rates
if they do nothing, if no law passes, they go over the fiscal cliff. >> that raises the issue. you are talking what a disaster the medicare eligibility portion of this would be, do you look at the compromise of 37%, if you could get something more favorable on medicare, would you say going up to 37% instead of 39.6 is enough? >> no. look, there was a tax plan and we looked at the discussion of keeping the rates at the level and reforming the tax code and dealing with deductions. the...
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the fiscal cliff is a creation of the republican party. had it not been for a republican party that was unwilling to grant this president an extension on the debt ceiling -- >> which every other president has been able to get in a bi-partisan fashion. >> absolutely. then we wouldn't be here right now. we would not be on the edge of the cliff. it's a precarious thing to negotiate around when you consider we might get thrown into a recession if we do go over it. but the more i watch the right, it the more it looks like something is going to have to budge over there. you look at the pugh poll that came out yesterday. 53% of americans would blame republicans if we go over the cliff. only 26% would blame president obama. >> yeah. >> what do we knew about polling? that there are 20% of americans that will always side with republicans. george bush left office with a 20% hard-core approval rating. the iraq war seven years in had a 20% approval rating. so obviously it's that 20% that's blaming the president. >> exactly. carl fritsche here with us a
the fiscal cliff is a creation of the republican party. had it not been for a republican party that was unwilling to grant this president an extension on the debt ceiling -- >> which every other president has been able to get in a bi-partisan fashion. >> absolutely. then we wouldn't be here right now. we would not be on the edge of the cliff. it's a precarious thing to negotiate around when you consider we might get thrown into a recession if we do go over it. but the more i watch...
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want the focus to be on the fiscal cliff. some conservatives did have issues regarding abortion and what it meant for the rights of the disabled while they were in the womb. there were a number of concerns. when i saw bob dole get wheeled in by his wife, former senator elizabeth dole, my heart melted. it meant a lot to people like john mccain, but that does not mean that some of these issues that some of these republicans had were not credible and are not -- we should just say, okay. there's a lot of treaties that have really pretty sounding name but the devil is in the detail. and i think that's what some of them felt when it came to this treaty. >> ana navaro and maria -- go ahead, maria, quickly. >> i hope ana is right and if republicans really want to do this right they will have another chance in the next congress and this is something where americans really need to step up. what happened yesterday was gop fear of the tea party. every single senator that voted against it was most likely up in 2014 except for one. >> okay
want the focus to be on the fiscal cliff. some conservatives did have issues regarding abortion and what it meant for the rights of the disabled while they were in the womb. there were a number of concerns. when i saw bob dole get wheeled in by his wife, former senator elizabeth dole, my heart melted. it meant a lot to people like john mccain, but that does not mean that some of these issues that some of these republicans had were not credible and are not -- we should just say, okay. there's a...
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>> wait for it. >>> first, the struggle over avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll find 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> if the nation goes over the cliff at the end of the year it is going to affect everyone including the unemployed as abc's jonathan karl reports. >> reporter: melinda vega has been put on notice. if congress and the president don't get their act together, her unemployment checks will stop immediately at the end of the year. >> we're dependent on that money to pay the bills. she has been what a job for a year. her $450 a week unemployment check her life line. >> we won't be able to pay some of our bills and, i mean, you know, that's for christmas and things of that nature, probably off the table. >> reporter: she is not alone. without a deal, unemployment compensation will end for more
>> wait for it. >>> first, the struggle over avoiding the fiscal cliff. new polling suggests support for president obama's position in the standoff with congressional republicans. >> the new associated press poll find 48% of americans want tax cuts for wealthy to expire. and it says more people want to cut government services than raise taxes to reduce the federal deficit. >> if the nation goes over the cliff at the end of the year it is going to affect everyone...
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listen to what he says about the fiscal cliff? >> i think no deal is better than a bad deal. i think going off this cliff is less dangerous than letting things build up for a year or two. the president has staked out a position of nonseriousness, i think it's difficult for the house republicans right now to find any practical way to get his attention. >> he's saying go over the cliff rather than accept what the president wants right now. >> i don't need to remind you this is the house speaker who shut down the government and that didn't work so well for the republicans. going over the cliff is something i don't think they want to do earlier. as i keep saying, wolf. the irony to me here is that the larger issues are things they really understand how to resolve, if you look at all their proposals. they just can't get there, because they can't agree on this revenue issue. where does the revenue come from. do you raise the rates on the wealthy? if you do, how much? and that's actually in the whole realm of things a sticking point that one would presume if they got in a room, they
listen to what he says about the fiscal cliff? >> i think no deal is better than a bad deal. i think going off this cliff is less dangerous than letting things build up for a year or two. the president has staked out a position of nonseriousness, i think it's difficult for the house republicans right now to find any practical way to get his attention. >> he's saying go over the cliff rather than accept what the president wants right now. >> i don't need to remind you this is...